Oct. 30 Premarket Briefing: 10 Things You Should Know
NEW YORK ( TheStreet) -- Here are 10 things you should know for Wednesday, Oct. 30:
1.-- U.S. stock futures were pointing to gains on Wall Street Wednesday as investors expect the Federal Reserve to maintain the pace of stimulus the central bank has been supplying to the economy.
European stocks were rising in early trading while Asian shares finished Wednesday's session with gains. Japan's Nikkei 225 index rose 1.2%.
2.-- The economic calendar in the U.S. Wednesday includes the ADP Employment Change Index for October at 8:15 a.m. EDT, the third-quarter advance reading on gross domestic product at 8:30 a.m., and the Consumer Price Index for September at 8:30 a.m. The rates decision from the Federal Open Market Committee is expected at 2:15 p.m.
3.--U.S. stocks on Tuesday rose and the Dow Jones Industrial Average and S&P 500 closed at record highs on expectations the Fed won't pull back on its stimulus measures at the conclusion of its two-day policy meeting Wednesday given that the U.S. economic recovery continues to struggle.
Investors will be focused on signs that Facebook can keep growing advertising revenue, especially on mobile devices.
Facebook posted earnings, excluding special items, in the year-earlier third quarter of 12 cents a share on revenue of $1.26 billion.
5.-- General Motors
GM remains second in global auto sales with 7.25 million vehicles, behind Toyota
LinkedIn, the professional online network, earned 39 cents a share for the three months ended Oct. 30; analysts were expecting a profit of 32 cents a share.
LinkedIn reported sales of $393 million, surpassing an average forecast for $385 million.
7.-- Social network Twitter, which is preparing for an initial public offering as soon as next week, has added photo and video previews to the feed of items that users see when they log onto the service from the Web or mobile applications, The New York Times reported. In the past, Twitter users had to click on a link to see a photo or video.
8.-- Activist investor Nelson Peltz escalated the pressure on snack maker Mondelez